NextDecade Corporation (NASDAQ:NEXT) Given Average Recommendation of “Hold” by Brokerages

NextDecade Corporation (NASDAQ:NEXT) has received a consensus rating of “Hold” from the five ratings firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $8.00.

Several brokerages have commented on NEXT. Capital One Financial started coverage on NextDecade in a research report on Friday, February 6th. They issued an “overweight” rating and a $7.00 price objective on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of NextDecade in a research note on Monday, December 29th. Finally, TD Cowen dropped their target price on NextDecade from $8.00 to $7.00 and set a “hold” rating on the stock in a research note on Thursday, October 23rd.

Insider Activity

In related news, major shareholder Aerospace Co. Ltd. Hanwha bought 851,971 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The shares were purchased at an average cost of $5.83 per share, with a total value of $4,966,990.93. Following the completion of the acquisition, the insider directly owned 25,620,222 shares in the company, valued at approximately $149,365,894.26. The trade was a 3.44% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have acquired a total of 6,586,024 shares of company stock worth $38,800,796 over the last three months. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On NextDecade

A number of large investors have recently added to or reduced their stakes in the stock. US Bancorp DE raised its position in NextDecade by 22,782.4% in the third quarter. US Bancorp DE now owns 3,890 shares of the company’s stock valued at $26,000 after purchasing an additional 3,873 shares during the period. Bessemer Group Inc. acquired a new position in shares of NextDecade during the third quarter worth about $29,000. Comerica Bank increased its stake in shares of NextDecade by 88.0% during the first quarter. Comerica Bank now owns 4,060 shares of the company’s stock worth $32,000 after buying an additional 1,900 shares during the period. AlphaQuest LLC raised its holdings in NextDecade by 102.2% in the second quarter. AlphaQuest LLC now owns 3,961 shares of the company’s stock valued at $35,000 after acquiring an additional 2,002 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in NextDecade in the second quarter valued at approximately $36,000. 66.74% of the stock is currently owned by institutional investors and hedge funds.

NextDecade Stock Performance

Shares of NEXT stock opened at $5.38 on Wednesday. NextDecade has a 52-week low of $4.75 and a 52-week high of $12.12. The company has a debt-to-equity ratio of 3.34, a quick ratio of 0.64 and a current ratio of 0.64. The firm has a market capitalization of $1.42 billion, a PE ratio of -7.37 and a beta of 1.99. The stock has a fifty day simple moving average of $5.35 and a two-hundred day simple moving average of $6.93.

About NextDecade

NextDecade Corporation is a Houston‐based liquefied natural gas (LNG) and decarbonization company focused on the development, engineering, construction and operation of large‐scale LNG export facilities. The company’s core mission is to deliver cleaner energy solutions to global customers while integrating carbon capture and sequestration technologies to reduce greenhouse gas emissions. NextDecade’s projects are designed to leverage abundant U.S. natural gas supplies to meet growing worldwide demand for low‐carbon fuel.

NextDecade’s flagship project, Rio Grande LNG, is located at the Port of Brownsville in southern Texas.